Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/266674 
Year of Publication: 
2022
Series/Report no.: 
Discussion Paper Series No. 42
Publisher: 
University of Freiburg, Department of International Economic Policy (iep), Freiburg i. Br.
Abstract: 
The theory and practice of stabilization policy has taken many turns as it evolved over the past century, oscillating between high hopes and deep skepticism regarding the capacity - and desirability - of governments taking responsibility for macroeconomic stability. This paper reviews the turbulent history of stabilization policy, highlighting the close interaction between events, policies, and ideas. The focus is on the single most debated issue in this history: the resilience of a market economy in the face of macroeconomic shocks. Views on this question have been shaped by experience, theory and ideology to varying degrees.
Subjects: 
Stabilization Policy
Macroeconomics
Fiscal Policy
Monetary Policy
History of Economic Thought
JEL: 
B10
B20
E00
E32
E50
E62
Document Type: 
Working Paper

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